Summary of JOIE article (First View, 14 July 2020) by Jordan K. Lofthouse, The Mercatus Center at George Mason University and Virgil Henry Storr, Department of Economics, George Mason University. The complete article is available on the JOIE website. In multilevel marketing companies (MLMs), also known as network marketing or direct selling, member-distributors earn income…
Category: Article Summary
Blockchain and institutional complexity: an extended institutional approach
Summary of JOIE article (First View, 16 June 2020) by Danil Frolov, Faculty of Economics and Management, Volgograd State Technical University. The complete article is available on the JOIE website. Blockchain is a digital technology for maintaining a replicated distributed ledger. It ensures the implementation of transactions in a digital format without the involvement of…
The role of collective action for the emergence and consolidation of democracy
Summary of JOIE article (First View, 16 June 2020) by Paolo Li Donni, University of Palermo and Maria Marino, University of Florence. The complete article is available on the JOIE website The literature Several scholars have claimed that democracy is a powerful predictor of countries’ prosperity (e.g., Alfonso-Gil et al., 2014; Acemoglu et al., 2019)….
Political instability, institutional change and economic growth in Brazil since 1870
Summary of JOIE article (First View, 1 June 2020) by Nauro Campos, University College London, ETH Zurich and IZA-Bonn, Menelaos Karanasos, Brunel University London, Panagiotis Koutroumpis, Queen Mary University London and Zihui Zhang, Brunel University London. The full article is available on the JOIE website How does institutional change affect economic growth? This paper explores…
Economic Cognitive Institutions
Summary of JOIE article (First View, 6 April 2020) by Enrico Petracca, School of Economics, Management and Statistics, University of Bologna and Shaun Gallagher, Department of Philosophy, University of Memphis and Faculty of Law, Humanities and Arts, University of Wollongong. The full article is available on the JOIE website. Institutional theory grapples with ontological issues…
Traditional Law in Times of the Nation State: Why is it so Prevalent?
Summary of JOIE article (First View, 18 March 2020) by Jerg Gutmann and Stefan Voigt, Institute of Law and Economics, University of Hamburg). The full article is available on the JOIE website. The existence of traditional law is frequently associated with pre-modern, pre-nation state institutions. Max Weber (1919) famously defined the state as an organization…
Reassessing the Dependence of Capitalism on Democracy – the Case of Imperial Germany and the Weimar Republic
Summary of JOIE article (First View, 20 January 2020) by Gerhard Wegner, Lehrstuhl für Institutionenökonomie und WirtschaftspolitikStaatswissenschaftliche Fakultät, Universität Erfurt. The full article is available on the JOIE website. Recent approaches in institutional economics emphasize the dependence of capitalism on democracy. Acemoglu/Robinson (2012) argue that only inclusive political institutions will establish inclusive economic institutions which…
The Religious Origins of the Rule of Law
Summary of JOIE Article by Peter J. Hill, Professor Emeritus Wheaton College, Senior Fellow, Property and Environment Research Center. Full article available on the JOIE website. In any discussion of the beginnings of modern economic growth the concept of the rule of law plays a crucial role. In Violence and Social Orders: A Conceptual Framework for…
Experienced People have the least Faith in Institutions
Summary of JOIE article (First View, 14 January 2020) by Benito Arruñada, Pompeu Fabra University and BGSE, Barcelona. The full article is available on the JOIE website. Experienced people, those who get in touch with rule-of-law institutions, perceive that they work worst. Therefore, optimism on the functioning of institutions seems to be the privilege of the inexperienced, especially of…
The Origins of Buchanan’s Views on Federalism, Chicago 1946-1947
Summary of JOIE article (First View, 26 December 2019) by Alain Marciano, Professeur d’Économie, Directeur Scientifique de Montpellier Recherche en Économie. The full article is available on the JOIE website James Buchanan was a longstanding advocate of federalism. Contrary to some accounts, he did not first defend federalism in the 1950s, in response to the desegregation…